Express Catering Limited (ECL) sees a strong first quarter for FY2023  

 

• ECL reported a net profit of US$652.8k for its first quarter ending August 31, 2022, which represents an increase of 15.5% relative to the prior period. This increase in profitability was mostly attributed to the 35.0% increase in revenues.
• Revenue increased as total passengers accessing the departure lounge of Sangster International Airport during the quarter was 37.4% higher than the similar period last year. This higher trend in total passenger arrivals is expected to continue throughout the company’s financial year. 
• Additionally, construction is underway for a few new food outlets and some will be open in time for the winter season. These include the Bob Marley One Love food outlet, Freshens and Bento Sushi which are expected to contribute positively to the company’s revenues and bottom line.
• ECL’s stock price has increased by 4.7% since the start of the calendar year. The stock closed Thursday’s trading session at $5.35 and currently trades at a P/E of 48.2x which is above the Junior Market Sector Average of 20.2x.

(Source: JSE and NCBCM Research)